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Globalization. Advantages or disadvantages? Discuss.
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November 28, 2011
2:41 pm
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Ha Noi, Vietnam
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In the wake of escalating demand of international trading, globalization has grown apace. As far as economy is concerned, this phenomenon boasts a source of blessing; however, others believe in the other way round. In fact, whether it is a help or a hindrance sparked a heated debated.

On the one hand, global integration carries much weight with prosperity creation. That is to say, thanks to establishment of commercial association such as The World Trade Organization, embargo is lifted, enabling Third World citizens enjoy Western luxury such as designer clothes and advanced vehicles once confined to Western. Moreover, with the increasing volume of commercial transaction and widespread operation of multi-nations stimulating technological transfer, developing ones gain accessing to state-of-the-art technologies and sophisticated machines, facilitating business efficiency. In addition, citizens enjoy a chance of exploring many different customs, cultural heritages as a result of cultural cross-understanding, which not only enlightens their mind but stimulates inventiveness in creative fields like fashion, art also.

On the other hand, profit-driven globalization exerts obvious worrying problems on socio-economic aspect. To be specific, globalization has led to exploitation of labor when prisoners and child labors are used to work in inhumane conditions such as sweat shops in China and India. In fact, when wealthy countries take advantages of cheap labors and abundant resources from developing countries, most benefits are carried back home countries, leaving an exhausting economy lagged behind. This uneven growth rate in times of globalization then result into currency differences which prevents the Third world countries from paying of the enormous foreign debt. The ultimate consequence could likely to be shaking sovereignty.

In conclusion, globalization brings both opportunities and challenges.  In fact, globalization has become pervasive in future.

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